Fixed Deposit Plan
| Plan Code |
Plan Name |
Duration |
Rate of Interest |
Sr. Citizen Inst. Rate |
| 301/- |
PRATIKSHA |
12-Month/- |
7% |
8% |
| 302/- |
SAMMAN |
24-Month/- |
8% |
8% |
| 303/- |
AABHAR |
36-Month/- |
8% |
9% |
| 304/- |
SWIKAR |
48-Month/- |
9% |
9% |
| 305/- |
DHANYAVAD |
60-Month/- |
9% |
10% |
Salient Features Of Seva Parmodharmah Nidhi
- It is mandatory to be a member in the company.
- Company will issue twenty shares (10/- Rs each) for all accounts. 2. Please produce original document (s) for verification & photocopy of each document.
- Mandatory to provide Permanent address and telephone number.
- Mandatory to complete the KYC Norms.
- Nomination facility available for deposits.
- A person legally empowered to operate a minor's account can file a nomination on behalf of the minor.
- The nomination details can be changed during the subsistence of the account relationship by filling up prescribed form.
- For more details approach your branch.
- Terms & conditions apply and all deposit plan only for member/share holders.
Mode of Payment :-
a) All payments to the company shall be made either in cash or by cheque/ draft against the receipt countersigned by its authorized signatory payments by any mode or media other than mentioned above shall be at the member account holder's own risk. The cheque/draft shall be credited in the name of member Account Holder subject to clearance by the bank. Out station cheques shall not be accepted.
b) Installments are to be paid regularly in each working day. The member account holder will have to deposit 30 days payment in the moth.
Issue Passbook :-
A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the pass book updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.
Benefits of Fixed Deposits (FD)
A fixed deposit is a financial instrument where an investor gives a certain sum of money to a bank or a financial institution (company) and the entity pays interest for the duration of the deposit. The rate of interest paid varies depending on the amount and tenure. Investor’s, especially conservative investors, prefer to open fixed deposits as it is a safe investment option and it can be opened easily and quickly.
The reasons why fixed deposits are an ideal form of investment are as follows:
Guaranteed returns: Unlike investment in the stock market or commodity market, fixed deposits are not a risky investment as they do not depend on fluctuating market rates. Investors can rest assured that his investments are safe and he will be getting back a guaranteed amount at the end of the tenure.
Easily withdrawable: The amount that is invested in fixed deposit can be withdrawn at any time for a small penalty. The investor may have a financial emergency to meet financial needs during marriage, sickness or when his business is in loss. The penalty is less than that of selling stocks or real estate as the asset cannot be sold easily because of its high value and if you are in a distressed situation, you will sell it for a much lower rate. Whereas, fixed deposits can be withdrawn at any time and all you lose is a certain interest income.
Flexible in nature: Fixed deposits can be taken for a tenure of 1 month or 1 year or 5 years based on your needs and for whatever amount that you can invest. Fixed deposits can be invested for a tenure of your choice. If you have planned for a big event in 5 years, then you can have a fixed deposit kept for 5 years to meet your financial requirement in 5 years. You can have various fixed deposit accounts to save for different goals.
Terms & Conditions:
- Minimum FD would be of Rs. 10000/- and further in multiple of Rs. 1000/-
- Interest calculation Quertly compound.
- TDS Deducted as per provisions and income tax Act.
- Loan available against deposits up to 70% of deposited amount after one month from the date of deposit.
- F.D. will not be premature within first 3 month.
- If F.D. is matured after 3 month but before 6 month no interest will be paid.
- If any person premature its F.D the the person will be paid 2% less of maturity interest after 6 month to 60 months.
- In case of death of a depositor, the company will repay to nominee or beneficiary the principle & interest, at which it was accepted.